Stocks to watch on the Australian stock exchange:

APA - APA GROUP - down 2.5 cents, or 0.3 per cent, at $9.685

BUL - BLUE ENERGY - up 0.7 cents, or 12.5 per cent, at 6.3 cents

APA Group will build a gas pipeline as part of an expansion to its east coast gas grid after signing a memorandum of understanding with Blue Energy.

ANZ - ANZ BANKING GROUP - down 29 cents, or 1 per cent, at $28.09

CBA - COMMONWEALTH BANK OF AUSTRALIA - down 68 cents, or 0.8 per cent, at $82.11

MQG - MACQUARIE GROUP - down 29 cents, or 0.3 per cent, at $90.73

NAB - NATIONAL AUSTRALIA BANK - down 29.5 cents, or 1 per cent, at $29.975

WBC - WESTPAC - down 26 cents, or 0.8 per cent, at $30.62

Shares in Australia's big four banks have fallen after Moody's cut their long-term credit ratings due to risks associated with the local housing market.

ORL - OROTON - up 1.5 cents, or 1.5 per cent, at $1.05

Struggling luxury handbag retailer Oroton will lean on its largest shareholder as part of a wide strategic review which could see the brand sold, refinanced or recapitalised.

SGH - SLATER AND GORDON - up 0.1 cents, or 1 per cent, at 9.9 cents

Slater and Gordon says it will strongly defend a class action brought against it by one of its shareholders.

TAH - TABCORP - in a trading halt, last traded at $4.63

TTS - TATTS GROUP - in a trading halt, last traded at $4.17

The Australian Competition Tribunal has waved through the proposed $11 billion merger between gaming rivals Tabcorp and Tatts Group.

AAP

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